Securities and Exchange Commission Democratic member Kara Stein said in a statement that allowing the banks to "continue business as usual, after multiple and serious regulatory and criminal violations, poses risks to investors and the American public that are being ignored."

Lending to UK property companies jumped sharply as the market, especially in London, is in a strong boom and returns from other asset classes are poor, the FT writes. The supply of finance to UK property companies rose by 50% in the 12 months to December. Nearly 13% of that came from insurance companies.

Uber Technologies is seeking financing worth around $1 billion from banks in a move that could signal an IPO down the line, the Wall Street Journal writes quoting people familiar with the matter. About six or seven banks are expected to take part.

The Bank of Japan kept its monetary policy on hold but signaled increased confidence in the economic recovery.